Amazon can and will make you rich if you can squeeze your way into one of the many avenues there are to explore. It’s easy to make thousands of pounds a month by simply buying and selling. Buying and selling on Amazon is a relative niche thing to do, so there’s a gap in the market.
You’ll be interested to know that most sellers on Amazon make at least $1000 a month, which’s around £725 with the current exchange rate. Many would call that a substantial passive income.
Want a piece of the Amazon sellers pie? Here’s how you can make a passive income on Amazon.
This is one of the easiest ways to make money on Amazon. It’s also the most common. By selling wholesale, you’re targeting businesses that want to buy products in bulk. Many will argue that B2B sales are the most lucrative. There is even a B2B marketplace on Amazon which has unique business features. One of the features is the ability to accept a request for quotes.
Hospitals, restaurants, local governments, and other businesses all use Amazon’s B2B marketplace. There is a large network to tap into. It’s reasonable to assume that there is a lot of money to be made on Amazon’s B2B marketplace, and it’s crazy to think how many people are unaware that it’s even there.
However, it does come at a cost. There is a small initial investment that has the potential to be a high ROI. As this is an excellent source of income, consider avenues such as a personal loan.
You wouldn’t need a lot, and it’s fair to assume that if it’s as easy to make money on the Amazon B2B marketplace as the reviews say, you can pay off the loan early. If you have bad credit, bad credit personal loans are an option. As it stands, all new sellers registering on Amazon are automatically enrolled on the B2B programme, so the door is wide open.
Supply and Demand
The concept of supply and demand is simple. Find the demand and supply. Drifting outside of Amazon, the principle of supply and demand is being used on Instagram and Facebook as people are selling raffle tickets to win prizes such as a PS5 or inflatable hot tubs.
Cunning sellers are researching what products are in most demand, so much so that they’re nearly all sold out, and finding a way to get their hands on them. Raffles are generated with 100-150 tickets at £10 or more. That’s a potential of £1000-1500 per raffle for a prize that would have cost a fraction of that.
Digression over, the principle can be applied to Amazon. Amazon is the biggest selling marketplace in the world. It ships 1.6 million packages a day. It’s the one place people turn to in an attempt at finding a product because it’s just so easy. So supply and demand are easy to fulfil.
Use the same principle as with the raffles on Facebook and Instagram. Research some of the most sought after items at the minute, and there are tons of articles about it. You can then buy it and use Amazon as an easy way of selling. It’s a simple and easy way to make money.
Private Label Products
There’s not just one programme. The Amazon Accelerator programme is another great way to make money. The programme creates an incentive for manufacturers to produce their own unique products using their own band. You’re the manufacturer. You’ll create and sell products, but exclusively to Amazon. The best thing is, you’re not alone. Amazon provides complete guides detailing everything you need to do. It might sound scary, manufacturing your own products, but Amazon provides total support along the way.
The only problem is, you have to be able to manufacture products. If you’re willing to have a higher initial investment, this could be the idea for you. Amazon goes the extra mile to help you succeed and even test products and provide feedback from customers.
Deliver for Amazon
Buying and selling aren’t for everyone. If it’s a career you’re looking for, you could make money by working for Amazon. Drivers work as freelancers and can make up to £200 per day. Or, there are Amazon careers within marketing, social media management, brand engagement, and much more.
In 2021, Amazon employs 1.3 million people worldwide. Although Amazon has had periods of bad press for the way they treat their employees, the consensus is that Amazon treats their employees really well. Check out their website to see what careers there are.
Amazon is a great way to make money if you haven’t guessed it already. It’s the sort of income you can make without having to leave the comfort of your home. All you need to do is know how to buy and sell! Or, switch careers if that’s what you fancy.
Read more: 5 SEO Tips To Boost Sales On Amazon